Number of Jobless Filers Dips Lower

For the week ended May 22, the number of first-time
filers for state unemployment benefits fell 3,000 to a
revised 347,000 from the previous week (See
Jobless Claims Tick Up; Analysts Not
Worried
), according to data released by the U.S. Department of
Labor (DoL).
However, analysts polled by Reuters had predicted an even
larger decline to a level of 335,000.

While the number of first time filers dropped last
week, the four week moving average – a more reliable
indicator since it irons out short term flucuations –
advanced by 1,500.
Last week the moving average touched its lowest
level since September 2000.